An unidentified investor sold 15,000 calls expiring in
October at a $20 strike at 35 cents and bought 20,000 January
calls at the same strike price for $1.10, Fred Ruffy, options
strategist at Whatstrading.com, said.

Ruffy said the activity looks like a rolling forward of
existing positions, as the investor in question extends a bet
into the early part of next year. Open interest in the Oct. 20
strike calls is more than 15,000, most of that accumulating in
August.

A total of 35,000 calls and no puts in all strikes traded as
of 12:13 p.m. EDT, according to Trade Alert.

The January 2015 $20 strike calls, which traded 20,042
times, are the busiest on Santander Consumer USA, according to
Trade Alert data.

Shares of the company were down 14 cents or about 1 percent
at $19.32 on Tuesday on the New York Stock Exchange.